“PACCAR reported record annual revenues and net income in 2023,” said Preston Feight, chief executive officer. “PACCAR’s excellent results reflect record deliveries of premium quality DAF,.
Shares of the U.S. truck maker were up 1.5% in premarket trading. The company, which makes trucks under the Kenworth, Peterbilt and DAF brand names, saw a growing demand for its hydrogen fuel cell and battery-powered vehicles as more consumers shifted to electric vehicles and emission-free engines. PACCAR's order book remains strong as demand for industrial equipment in the U.S. has gotten a boost from the Biden administration's $1.2 trillion push to improve transportation and infrastructure.
PACCAR Achieves Record Annual Revenues and Net Income | Consumer Electronics Net consumerelectronicsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from consumerelectronicsnet.com Daily Mail and Mail on Sunday newspapers.
By Rob Curran Paccar's fourth-quarter net income rose 54% as demand for its semi-tractor trucks increased worldwide, reflecting replacement of aging fleets,.